The price of apples falls by 5% and quantity demanded increases by 6% This means that demand is ?

Related Mcqs:

Average income increase from Rs20,000 p.a to Rs 22,000 p.a Quantity demanded per year increases 5000 to 6000 units. Which of the following is correct ?

A. Demand is price inelastic B. The good is inferior C. Income elasticity is -2 D. The product is normal...

Increase unemployment benefits and less incentive to work would ?

A. shift aggregate supply to the right B. shift aggregate supply to the left C. shift aggregate demand to the right D. shift aggregate demand to the left...

When excess demand occurs in an unregulated market, there is a tendency for ?

A. price to fall B. quantity supplied to decrease. C. price to rise D. quantity demanded to increase...

if demand is price inelastic ?

A. An increase in price must raise profits B. An increase in price decrease revenue C. An increase in price increase revenue D. A decrease in price reduces sales...

Marginal revenue is the ________ when output is __________?

A. Change in average revenue, increased B. Change in total revenue, increase by one unit C. change in average revenue, increased by one unit D. change in total revenue increased...